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Feb 8, 2013
02/13
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we should care about the deficit. we should care about the difference between what a government spending and what a government is collecting in revenues. extremely important to we should also to about the size of government. we should care about both i. and what we have done over the past several years is we have a limited concerns about the deficit. we have done that to a large extent by increasing the size of government and the tax burden to get bigger, is the fewer resources there are for california dems and california businesses to do what they want to do with them. and so you've got to take both of those into account. and i think that one of my concerns is, if we simply say deficits are not a problem, everything is better, what we are ignoring is that other dimension because in reality what happens, the policymakers are making to decisions. wonders whether they're deciding about deficits or surpluses. they're deciding are going to borrow from our state's future income. but when a decision on the size of governmen
we should care about the deficit. we should care about the difference between what a government spending and what a government is collecting in revenues. extremely important to we should also to about the size of government. we should care about both i. and what we have done over the past several years is we have a limited concerns about the deficit. we have done that to a large extent by increasing the size of government and the tax burden to get bigger, is the fewer resources there are for...
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Feb 2, 2013
02/13
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i don't think the focus has changed to the median term deficit. i think it is front and center precise i will because it has to be -- precisely because it has to -- we have an unemployment rate slight i will below 8%. if you're at a do more infrastructure spending or you're going to make the kind of investments in education that will put people back to work, the only way you ever get a congress to go along with you if you say let's make this part of a package to deal with the other long-run fiscal things. in dealing with some of this is making space to get more short-term recovery. >> except that -- >> poor anna. >> i want this, exactly. >> to move the needle -- if you're pulling on the fiscal policy lever you have to pull from your heart. in 2008, president bush proposed and congress enacted what we called the fiscal stimulus bill. on the right of the aisle it was not forbidden to call it that. it was bipartisan and it was $150 billion pushed out over an 18-month period. we figured that was probably at least the smallest size you needed to move t
i don't think the focus has changed to the median term deficit. i think it is front and center precise i will because it has to be -- precisely because it has to -- we have an unemployment rate slight i will below 8%. if you're at a do more infrastructure spending or you're going to make the kind of investments in education that will put people back to work, the only way you ever get a congress to go along with you if you say let's make this part of a package to deal with the other long-run...
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Feb 6, 2013
02/13
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the deficit goes back up even though we saw it go slightly down. they're calling this the sandwich generation, the people in the middle getting squeezed by taking care of their older parents that can't retire early and taking care of kids. youth unemployment at 11.5. >> more of the middle class becoming the working poor at this point. and the problem is, you can't ask the guy a question. he makes an announcement. you can't ask him a question to get meaningful discussion to hear the other side. when you have the chance, and he was able to have control to put something through, what did he do? we're still hearing blame it on bush. that's old. >> also tax hikes. we'll have the highest spending and highest government spending and highest tax rates. i'm not sure who is can connecte dots to create jobs. >> can i say something? the new normal is the old miserable. the carter era with bandwidth. does he care about the fracturing. the harder american life gets the more he can change it. when we take the bus instead of drive that's progress. he sees shrinkag
the deficit goes back up even though we saw it go slightly down. they're calling this the sandwich generation, the people in the middle getting squeezed by taking care of their older parents that can't retire early and taking care of kids. youth unemployment at 11.5. >> more of the middle class becoming the working poor at this point. and the problem is, you can't ask the guy a question. he makes an announcement. you can't ask him a question to get meaningful discussion to hear the other...
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merkel's message all the way which is that it's all by austerity and by a sturdy alone and cutting that deficit. that greece can get itself financially back on its feet now what is interesting is that in the german elections we're seeing the key battleground becoming greece. now one of the reasons that we've seen the s.t.p. . jump on this is because essentially they smell blood he said himself after the most recent local elections which took place last month that's change was possible this year and in order and one of the reasons he can say that is his party is absolutely killing angle of merkel's coalition when it comes to domestic issues if you speak to the german people one thing they will all tell you what the vast majority will tell you is that they do support angola merkel's view when it comes to dealing with the euro crisis what we're now seeing is peacetime saying i'm going to challenge angela merkel on her own turf and put forward my own theory about how to deal with greece after years of preparation the sleepless nights and hard work russia has something to celebrate tomorrow the offi
merkel's message all the way which is that it's all by austerity and by a sturdy alone and cutting that deficit. that greece can get itself financially back on its feet now what is interesting is that in the german elections we're seeing the key battleground becoming greece. now one of the reasons that we've seen the s.t.p. . jump on this is because essentially they smell blood he said himself after the most recent local elections which took place last month that's change was possible this year...
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what would you call a deficit hawks or austerity pushers or whatever no i don't think they're unique but they're the most visible they have what they call a sovereign unit that looks at the credit ratings of governments and the head of that unit has been acting like a stopper in for quite some time issuing dictates the u.s. government and other governments about how the people should manage their own budgets so i think they've been very visible in this regard i mean i think that but the other thing to remember and particularly with the payback theory is you know i'm one of the few people who did the analysis on this but when they downgraded the u.s. back in two thousand and eleven the stock market didn't care at all there was no penalty for the united states government in that downgrade so i think that is you know they're not unique but there are two things different about them one is that they're very visible in talking about deficits and the government but number two is that thanks to the eleven subcommittee as senator carl levin in congress there's a great deal of documentation of
what would you call a deficit hawks or austerity pushers or whatever no i don't think they're unique but they're the most visible they have what they call a sovereign unit that looks at the credit ratings of governments and the head of that unit has been acting like a stopper in for quite some time issuing dictates the u.s. government and other governments about how the people should manage their own budgets so i think they've been very visible in this regard i mean i think that but the other...
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Feb 6, 2013
02/13
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blue bars are president obama's deficits. those really big bars are when the whole world economy crashed, including ours. remember that? you notice how the deficit gets smaller when the bars are blue over time? see how they're getting shorter as you go to the right? today the congressional budget office released their deficit projection for 2013. so for this upcoming year, the nonpartisan cbo. according to them under president obama the deficit is slated to continue to shrink, as it has been under president obama. but the supposedly gigantic growth of those deficits is why congressional republicans are >>> in march 2007, some of the fine folks at morgan stanley were brainstorming via e-mail about what they wanted to call a new product they were working on. it was an investment package essentially that they would eventually go on to sell to a chinese bank. here are some of the potential product names that were suggested in this brainstorming session by a particular morgan stanley vice president. flutter fish 2007, or mike tyso
blue bars are president obama's deficits. those really big bars are when the whole world economy crashed, including ours. remember that? you notice how the deficit gets smaller when the bars are blue over time? see how they're getting shorter as you go to the right? today the congressional budget office released their deficit projection for 2013. so for this upcoming year, the nonpartisan cbo. according to them under president obama the deficit is slated to continue to shrink, as it has been...
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Feb 6, 2013
02/13
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so, yes, reduce the deficit. but let's do it in a sensible way and the president has the prerogative of getting to put forward his budget the w he would like to present it to congress and then congress can do its work however it wants. and with that i yield to my friend and colleague from maryland and someone who has been very focused on reducing our deficits in a responsible way, mr. hoyer. the chair: the gentleman from maryland is recognized. may i remind my colleagues, i appreciate the honor, but i'm only a chairman today. the gentleman is rognized. mr. hoyer: we wish you the best for the future. the chair: thank you. mr. van hollen, may i ask for how long he was recognized? mr. van hollen: i yield four minutes. the chair: the gentleman from maryland is recognized. mr. hoyer: i thank the gentleman for yielding. mr. price of georgia said what the american people want. what the american people don't want is games. this is a game. this is a sham. this is a shame. what the american people want is honest legislatio
so, yes, reduce the deficit. but let's do it in a sensible way and the president has the prerogative of getting to put forward his budget the w he would like to present it to congress and then congress can do its work however it wants. and with that i yield to my friend and colleague from maryland and someone who has been very focused on reducing our deficits in a responsible way, mr. hoyer. the chair: the gentleman from maryland is recognized. may i remind my colleagues, i appreciate the...
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Feb 4, 2013
02/13
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if we are not out of the deficit that we lost. in terms of the system being skewed, if we are continually supporting a system where jobs go to the already employed and we are really not doing anything to foster the economic recovery that is going to benefit everyone in society, none of these laws and nothing that the national employment law project is advocating for says you have to fill open jobs with unemployed people. what we are saying is that qualified unemployed people should be allowed to compete on terms that are fair. that is good for all of us in an economic recovery. host: baltimore, md., just retired, go ahead. caller: i would like to say one thing before i say my question. i love c-span and i always want to make it through on a phone call and i am glad that i made it through. that being said, and by the way -- go ravens, we won the super bowl. my question is this. i live in baltimore city. the unemployment rate in baltimore city is unbelievable. the problem that you have is that not only are so many people unemployed,
if we are not out of the deficit that we lost. in terms of the system being skewed, if we are continually supporting a system where jobs go to the already employed and we are really not doing anything to foster the economic recovery that is going to benefit everyone in society, none of these laws and nothing that the national employment law project is advocating for says you have to fill open jobs with unemployed people. what we are saying is that qualified unemployed people should be allowed...
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Feb 6, 2013
02/13
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MSNBC
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blue bars are president obama's deficits. those really big bars are when the whole world economy crashed, including ours. remember that? you notice how the deficit gets smaller when the bars are blue over time? see how they're getting shorter as you go to the right? today the congressional budget office released their deficit projection for 2013. so for this upcoming year, the nonpartisan cbo. according to them under president obama the deficit is slated to continue to shrink, as it has been under president obama. but the supposedly gigantic growth of those deficits is why congressional republicans are committed to us lurching from self-imposed crisis to self-imposed crisis instead of us working this stuff out like adults. the accusation that president obama has grown the deficit giantly since he has been in office is a very politically potent accusation. and when republicans say it, the beltway media tends to write it down as if it was true. it is not true. it has not been true for a very long time, and there is really no ex
blue bars are president obama's deficits. those really big bars are when the whole world economy crashed, including ours. remember that? you notice how the deficit gets smaller when the bars are blue over time? see how they're getting shorter as you go to the right? today the congressional budget office released their deficit projection for 2013. so for this upcoming year, the nonpartisan cbo. according to them under president obama the deficit is slated to continue to shrink, as it has been...
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Feb 4, 2013
02/13
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american families rather than focussing primarily on the need to reduce federal spend and tackle budget deficits." that seems to be a wholesale reversal of where they've been. >> absolutely. i mean, if you go back to the clinton example, which is i think instructive, clinton had to figure out how to run the state. that was not naturally a liberal state. you know? and there was a kind of set of policy innovations that developed during the early 1980s that democratic governors of less liberal states had to sort of figure out how to be more pragmatic to make things work. one of the problems we have now with general polarization is that you have a lot of republican congressional candidates, even governors, coming up in states where they're not responsive to a moderate jurisdiction. you know, it's true that there are figures like -- i think rubio is actually not -- is actually a really interesting figure, but there's also figures like chris christie. you have some republicans that are in states that -- >> jeb bush. >> right. on the whole the party is being pushed by pure demographics and pure distric
american families rather than focussing primarily on the need to reduce federal spend and tackle budget deficits." that seems to be a wholesale reversal of where they've been. >> absolutely. i mean, if you go back to the clinton example, which is i think instructive, clinton had to figure out how to run the state. that was not naturally a liberal state. you know? and there was a kind of set of policy innovations that developed during the early 1980s that democratic governors of less...
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Feb 6, 2013
02/13
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we should bring the deficit down, but we have time. we should take the cuts off the table and think about how to get the economy going. if people work again, we are on the road to solving the problem. >> to that point and looking at the cuts you have been pointing out to head start and cuts to wic, the women, infant and children nutritional assistant program, they are penny wise and foolish and may be making things worse in the long run. >> i'm glad you raised that, crystal. if you think about the single mom working 12 hours a day and her paycheck does not take her to the end of the month on food. what she realizes and has been a responsible mom, but realizes after she makes the decision to have her child not have an abortion is that her paycheck is not going to help her feed her infant. the women infant children program not only feeds these families, it also teaches them about nutrition and how to be healther and live healthier lives. this is important for families and the economy. we are helping people stay healthy longer and one of
we should bring the deficit down, but we have time. we should take the cuts off the table and think about how to get the economy going. if people work again, we are on the road to solving the problem. >> to that point and looking at the cuts you have been pointing out to head start and cuts to wic, the women, infant and children nutritional assistant program, they are penny wise and foolish and may be making things worse in the long run. >> i'm glad you raised that, crystal. if you...
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their mouths shut until a democrat came into the white house and then they could start screaming about deficits so today and simplified form many democrats and democratic party supporters are faced with a pretty stark choice on this issue of using drones to kill american citizens without trial something that our democratic president has done three times that judge jury executioner you support your party and its leader right or wrong. or do you support the constitution. now for more on this i want to bring in mike papen tony attorney and host of ring of fire radio mike welcome back. great john ball crazy john ball below the top of the u.n. building off john ball says that this is consistent that the obama policy is a good thing and that it's been a consistent extension of the bush policies shouldn't john bolton support of it scare the hell out of the rest of us karl rove's support of that yesterday so that's really no surprise i think the reason that this is going down so easy for so many americans why you have americans say of course we just need to use drones at every chance we get to assassin
their mouths shut until a democrat came into the white house and then they could start screaming about deficits so today and simplified form many democrats and democratic party supporters are faced with a pretty stark choice on this issue of using drones to kill american citizens without trial something that our democratic president has done three times that judge jury executioner you support your party and its leader right or wrong. or do you support the constitution. now for more on this i...
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what would you call a deficit hawks or austerity pushers or whatever no i don't think they're unique but they're the most visible they have what they call a sovereign unit that looks at the credit ratings of governments and the head of that unit has been acting like a stopper in for quite some time issuing dictates the u.s. government and other governments about how the people should manage their own budget so i think they've been very visible in this regard i mean i think that but the other thing to remember and particularly with the payback theory is you know i'm one of the few people who did the analysis on this but when they downgraded the u.s. back in two thousand and eleven the stock market didn't care at all there was no penalty for the united states government in that downgrade so i think that is you know they're not unique but there are two things different about them one is that they're very visible in talking about deficits and the government but number two is that thanks to the eleven subcommittee as senator carl levin in congress there's a great deal of documentation of
what would you call a deficit hawks or austerity pushers or whatever no i don't think they're unique but they're the most visible they have what they call a sovereign unit that looks at the credit ratings of governments and the head of that unit has been acting like a stopper in for quite some time issuing dictates the u.s. government and other governments about how the people should manage their own budget so i think they've been very visible in this regard i mean i think that but the other...
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Feb 9, 2013
02/13
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trade deficit fell sharply last month. the combination now has economists believing the economy grew in the last few months of 2012, even though data out last week showed the economy fell slightly in the fourth quarter. but a closer look shows some cause for caution. darren gersh reports. >> reporter: the december trade numbers were much better than forecasters expected. the deficit between what the u.s. exports and what we import fell 21% to $38.5 billion. and that means exports likely boosted growth in the last three months of 2012. >> so this is a good sign that exports were a little stronger than we thought when the numbers were first estimated and that is obviously a good sign for the economy. again, the economy is obviously growing way too slowly, but at least on this note, i think it will be revised upward. energy is a now a bright spot for the u.s. economy. thanks to new fracking technology, surging domestic production cut crude oil imports last year by 227 million barrels. but that success was offset somewhat by i
trade deficit fell sharply last month. the combination now has economists believing the economy grew in the last few months of 2012, even though data out last week showed the economy fell slightly in the fourth quarter. but a closer look shows some cause for caution. darren gersh reports. >> reporter: the december trade numbers were much better than forecasters expected. the deficit between what the u.s. exports and what we import fell 21% to $38.5 billion. and that means exports likely...
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Feb 6, 2013
02/13
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they have $3 billion in tax increases against a $845 billion deficit. the point that you make is a good one. the president and he drove this thing in august of 2012. h20122011. he wanted the sequester. read woodward's book in page 226 or some where in this and the deep cuts in defense thinking at the time that would put enough pressure on republicans to get them to agree to higher tax. here we are he wants this thing delayed yet again but to be fair there has been a solution put forward. the house of representatives has not once but twice passed legislation that would replace the sequester and the deep defense cuts which do cause damage to our national security and our readiness with other cuts also in the budget. and that is something that has been rejected by the democrats here on capitol hill and by the president. >> greta: what i don't get is the gal to come out and ask for mother delay. i can't delay showing up for my job and neither canmy american. we can't keep asking for the delays and he says the economy is headed in the right direction. maybe
they have $3 billion in tax increases against a $845 billion deficit. the point that you make is a good one. the president and he drove this thing in august of 2012. h20122011. he wanted the sequester. read woodward's book in page 226 or some where in this and the deep cuts in defense thinking at the time that would put enough pressure on republicans to get them to agree to higher tax. here we are he wants this thing delayed yet again but to be fair there has been a solution put forward. the...
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Feb 9, 2013
02/13
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we have achieved about two trillion in deficit reduction so far and have another two trillion to go and something that reasonable minds agree on. it will be more fun when you are making new investmentings. >> here's the problem. so many americans believe that congress is so pol oarized right now . so difficult to make head way at this moment. everybody is camped out and take care of their own agendas . how do you get past that right now. & not every democrats support it an agreement and in my view tax were deciped and now why have turn to spend everybody acknowledges we have a spending problem and so to prevent the dire consequences that come with sequestitration and economic and national security wise and domestic programs are cut, too. we have to cut spend nothing a smart way and no reason we can't do that. >> we'll give you the last word. do we have a spending problem and believe that that is at play right now. >> we'll have to reduce spending . andy he upon said we need to have it. it was all spending cuts and the second round increases . and they are advocate that's what the countr
we have achieved about two trillion in deficit reduction so far and have another two trillion to go and something that reasonable minds agree on. it will be more fun when you are making new investmentings. >> here's the problem. so many americans believe that congress is so pol oarized right now . so difficult to make head way at this moment. everybody is camped out and take care of their own agendas . how do you get past that right now. & not every democrats support it an agreement...
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as the president talks up, how to reduce the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets, none of which have ever come to balance. the house republicans have acted responsibly, our budget is yet to balance, so what we will do is put together a budget that balances in a ten-year time. all it does tomorrow it says to the president tell us when you'ryourbudget balances. it is important to do that because we have our principled solutions with the program. liz: used a dozen state when the budget would be balanced, is that it? >> we have had to end dollars deficit of the past four years in the past for budgets by this president have never come into balance ever in the 75
as the president talks up, how to reduce the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets,...
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Feb 2, 2013
02/13
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we should care about the deficit. we should care about the difference between what the government is spending and collecting. extremely important. we should also care about the size of government. we should care about both. what we have done over the past several years is illuminated concerns about the deficit. we have done that to a large extent by increasing the size of government. the bigger government is, the fewer resources there are for california families and businesses to do with they want to do with them. so, you have got to take both of those into account. i think that one of my concerns is, if we simply say, deficits are not a problem, everything is better, we are ignoring that other dimension. in reality, policy makers are making two decisions. one, when they're deciding that deficit, they are allocating resources. borrowing from our states future income. two, they are allocating sources between the public and private sector and making decisions about how efficient economy is. i cannot answer on the specif
we should care about the deficit. we should care about the difference between what the government is spending and collecting. extremely important. we should also care about the size of government. we should care about both. what we have done over the past several years is illuminated concerns about the deficit. we have done that to a large extent by increasing the size of government. the bigger government is, the fewer resources there are for california families and businesses to do with they...
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Feb 8, 2013
02/13
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. >> the fact is though, we can't finish the job deficit reduction through spending cuts alone. >> yes, we can. [ laughter ] >> we can. >> john: now, that is romance. before we go tonight. one more look at the radar on the scene from boston as the huge storm is getting ready to wrap you up. expected to dump as much as 3-foot
. >> the fact is though, we can't finish the job deficit reduction through spending cuts alone. >> yes, we can. [ laughter ] >> we can. >> john: now, that is romance. before we go tonight. one more look at the radar on the scene from boston as the huge storm is getting ready to wrap you up. expected to dump as much as 3-foot
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Feb 6, 2013
02/13
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we believe there is a better way to reduc the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year. that's compared to $1.1 trillion short fall. the outlook predicts the improvements will not last. it warns that an aging population will drive up retirement spending and rising interest rates will put the debt at unsustainable level it's current laws remain in place, debt by 2023 will equal 77% of gross domestic product. that is roughly double the 39% average seen over the past 40 years. >>> coming off the republicans' bruising defeat, eric cantor is looking to rebrand his party n a speech at a d.c. think tank, he moved away from his combative tone expressing a need to work on issues with president obama important to t
we believe there is a better way to reduc the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year....
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Feb 6, 2013
02/13
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the deficit's going down. this year alone, medicare, medicaid, social security and interest on the debt consumes every dollar that washington takes in. this is such a crisis, and it's growing. >> well, this whole idea that don't worry about the debt, you had a little tangle with the krugman a couple of weeks ago. this exposes how wrong the view is. don't worry about the debt because the debt has built to a large number what the congressional budget office is showing is that we're going to be paying a lot of money on that debt, and it's going to crowd out vital public services. and that's why we had to worry about the debt all along. and we didn't. now it's built up. now we're facing reality. i thought it was a little odd. the president said, well, we have to do something, but he didn't offer anything to do because the main part he played was two months ago, he said, let's make the tax cuts permanent, both sides, and now we see, well, you can't afford that. >> you talk about paul krugman -- >> that's what they
the deficit's going down. this year alone, medicare, medicaid, social security and interest on the debt consumes every dollar that washington takes in. this is such a crisis, and it's growing. >> well, this whole idea that don't worry about the debt, you had a little tangle with the krugman a couple of weeks ago. this exposes how wrong the view is. don't worry about the debt because the debt has built to a large number what the congressional budget office is showing is that we're going to...
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Feb 6, 2013
02/13
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our deficits are financed by treasury bonds. most of which are being purchased by the fed with newly created money. this drives up the price of bonds and keeps interest rates artificially low, seniors on fixed incomes who have saved their whole lives now cannot make a fair market on their interest for their savings. in addition to squeezing the incomes of our seniors, creating money to fund deficits also drives up prices which has a disproportionate adverse effect on seniors, on the poor, and on middle income families. creating money out of thin air to fund the president's spending must stop. the first step is to stop the reckless spending by having the president present a plan to balance the budget. this is a simple request with no reasonable excuse for opposition. i support h.r. 444, the require plan act, to protect our seniors, the poor, and middle income families. i yield back. the chair: the gentleman yields back. the gentleman from maryland is recognized. mr. van hollen: madam chairman, again we have heard a number of the
our deficits are financed by treasury bonds. most of which are being purchased by the fed with newly created money. this drives up the price of bonds and keeps interest rates artificially low, seniors on fixed incomes who have saved their whole lives now cannot make a fair market on their interest for their savings. in addition to squeezing the incomes of our seniors, creating money to fund deficits also drives up prices which has a disproportionate adverse effect on seniors, on the poor, and...
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Feb 4, 2013
02/13
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we're not out of the deficit of the 8 million jobs already lost. in terms of a system being skewed, if we are continually supported a system where jobs go to the already employed, we are really not doing anything to foster the economic recovery that is going to benefit everybody. in society. none of these laws and nothing the national employment law practice is advocating says you have to fill open jobs with unemployed people. we are saying that qualified unemployed people should be allowed to compete on terms that are fair and that is good for all of us in our economic recovery. host: baltimore, maryland, just hired. caller: i would like to say one thing -- i love cspan and site -- and i love to make it through my phone call. go ravens. i live in baltimore city and the unemployment rate in baltimore city is unbelievable. the problem you have is that not only is there so many people unemployed but that there is a lack of job opportunities. how will the work that you are doing affect people live in urban america who are african- americans who are la
we're not out of the deficit of the 8 million jobs already lost. in terms of a system being skewed, if we are continually supported a system where jobs go to the already employed, we are really not doing anything to foster the economic recovery that is going to benefit everybody. in society. none of these laws and nothing the national employment law practice is advocating says you have to fill open jobs with unemployed people. we are saying that qualified unemployed people should be allowed to...
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guest: we usually do not talk about trust deficits. talk about trade, budget deficits, things we can measure. i'm talking about a breakdown of trust in american society, in particular in the institutions that make our economy go. when you look at measures of trust from surveys like a gallup or the pugh institute -- the pew institute, or even newspapers, congress, large corporations, banks, public schools, they have all been going down for many years. for a lot of them, this decline in trust was intensified leading up to and going into the financial crisis. there are a lot of reasons for these things we can talk about. what we were trying to get at in the story that -- is that this matters to the economy, and trust breaks down. there was nobel prize-winning economist who 40 years ago said that every commercial transaction has within it an element of trust. when you trust your counter party, you're more likely to engage in a transaction. when trust begins to fray, and people become suspicious of each other and each other's intentions, it
guest: we usually do not talk about trust deficits. talk about trade, budget deficits, things we can measure. i'm talking about a breakdown of trust in american society, in particular in the institutions that make our economy go. when you look at measures of trust from surveys like a gallup or the pugh institute -- the pew institute, or even newspapers, congress, large corporations, banks, public schools, they have all been going down for many years. for a lot of them, this decline in trust was...
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02/13
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one thing that happens is the deficit. we are talking the out year's 2030, 2035 and 2045. what do we know about the economy in 2040? we can't predict one year. maybe innovation is incredible. maybe we have four years of japanese growth. things are going to change a lot. i want to thank our guests. connie, joe from business insider. ed connor, thank you all. that was great. >> thank you. >> thank you for joining us. we'll be back next weekend. our guests will include gror ya and marlo. the state feminism today. coming up next is melissa harris perry. former congresswoman gabby giffords and her gun control issues. that's up next on mhp. have a fun super bowl. [ man ] ring ring... progresso this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. how did i know? well, i didn't really. see, i figured low testosterone would
one thing that happens is the deficit. we are talking the out year's 2030, 2035 and 2045. what do we know about the economy in 2040? we can't predict one year. maybe innovation is incredible. maybe we have four years of japanese growth. things are going to change a lot. i want to thank our guests. connie, joe from business insider. ed connor, thank you all. that was great. >> thank you. >> thank you for joining us. we'll be back next weekend. our guests will include gror ya and...
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their mouths shut until a democrat came into the white house and then they could start screaming about deficits. so today in simplified form many democrats and democratic party supporters are faced with a pretty stark choice on this issue of using drones to kill american citizens without trial something that our democratic president has done three times that judge jury executioner do you support your party and its leader right or wrong or do you support the constitution. now for more on this i want to bring in mike papen tony an attorney and host of ring of fire radio mike welcome back to great john bolton crazy john ball below the top of the u.n. building off john ball says that this is consistent that the obama policy is a good thing and that it's been a consistent extension of the bush policies shouldn't john bolton support of it scare the hell out of the rest of us karl rove's support of that yesterday so that's really no surprise i think the reason that this is going down so easy for so many americans why you have americans say of course we just need to use drones at every chance we get to
their mouths shut until a democrat came into the white house and then they could start screaming about deficits. so today in simplified form many democrats and democratic party supporters are faced with a pretty stark choice on this issue of using drones to kill american citizens without trial something that our democratic president has done three times that judge jury executioner do you support your party and its leader right or wrong or do you support the constitution. now for more on this i...
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and i wonder if the message, reducing the debt and deficit, fixing the education system for the most vulnerable is the way he puts it. the way he talks about immigration, are those things that will resonate? >> i think jonathan's right. what the republican party used to stand for, when george h.w. bush was president, is something that the republican party doesn't seem to stand for for most americans anymore. what they seem to stand for today is being, you know, insensitive on immigration. and not being mindful of a woman's -- you know, women's rights and there are symbols that the republican party promotes, like, they say they're for education, but they want to abolish the department of education. and i think that makes it difficult for them to cut through. if eric cantor can do it, then it needs to be done. but i'm just -- i think that there are candidates out there every single cycle that get in the way of the republicans try to rebrand and they are back in this same position every two years. >> eric cantor is not alone, for sure, jonathan, your old boss, or i guess your boss, karl
and i wonder if the message, reducing the debt and deficit, fixing the education system for the most vulnerable is the way he puts it. the way he talks about immigration, are those things that will resonate? >> i think jonathan's right. what the republican party used to stand for, when george h.w. bush was president, is something that the republican party doesn't seem to stand for for most americans anymore. what they seem to stand for today is being, you know, insensitive on immigration....
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if we cut the deficit we see a major bump 10 years, down the road. look at that even though the economy will take a hit in the short term. when it comes to the deficit, shouldn't we focus on the long game here i'm wondering? here with more is former director of the congressional budget office, douglas holtz-eakin. thanks so much for joining us. >> thank you. melissa: i was so excited the cbo finally went out and quantified this and tried to illustrate it to people. anytime you try to make the case we should cut spending short term to help our children down the road or ourselves depending how long you are, people poo-poo that is not like real math s that real math we saw on the bar charts? >> that is real math and the second example of that real math is what the cbo put out which says, suppose you do nothing? well, then we have a fault turf bad growth. their long-term growth rate for the u.s. has been marked down from 2 1/2% a year ago to 2.2%. and that's testimony to a staggering debt burden this economy is bearing. whether you look at it as the bad
if we cut the deficit we see a major bump 10 years, down the road. look at that even though the economy will take a hit in the short term. when it comes to the deficit, shouldn't we focus on the long game here i'm wondering? here with more is former director of the congressional budget office, douglas holtz-eakin. thanks so much for joining us. >> thank you. melissa: i was so excited the cbo finally went out and quantified this and tried to illustrate it to people. anytime you try to make...
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to pay down the deficit. and it should be used to potentially make our businesses more competitive. now, i think, is balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans, as well as independents, have the same view. and both the house and senate are working towards budget proposals that i hope help reflect this balanced approach. having said that, i know that having a full budget may not be finished before march 1. unfortunately, that is the date my fear is a powerful automatic cuts also known as the silk was sure are scheduled to take effect. if congress cannot act immediately on a bigger package -- i believe they should at least pass a smaller package of spending cuts and tax reforms that would delight the damaging effects of the sequester for a few months. there is no reason that the jobs of thousands of americans who work in national security or education or clean energy, not to ment
to pay down the deficit. and it should be used to potentially make our businesses more competitive. now, i think, is balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans, as well as independents, have the same view. and both the house and senate are working towards budget proposals that i hope help reflect this balanced approach. having said that, i know that having a full...
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$85 million across the board spending cuts that congress put into place to force them to agree on a deficit reduction plan. it's a stupid plan. [ laughter ] how will those cuts help us? >> the congressional budget office came out with a report ten minutes ago that said the effects of sequester will be to retard growth by 1.25 percentage points. >> jon: how many people only took away from that sound bite the word retard. and how that word even if proper context seems offensive. you can't even call our economy retarded. what are you going to do now? you can't offend our economy. it will hit the defense department. how do you think the defense department feels about that? >> if these cuts happen there le bay disruption in defense and sharp decline in military readiness. >> jon: you can pull troops from germany and consolidate middle east forces and most armies and go all in on the australian content. this is not a game. [laughter] >> jon: no it's the game the world domination. risk. this is jon stewart comedian and drawing room emperor. you know, when i'm looking to kill eight hours, i like to
$85 million across the board spending cuts that congress put into place to force them to agree on a deficit reduction plan. it's a stupid plan. [ laughter ] how will those cuts help us? >> the congressional budget office came out with a report ten minutes ago that said the effects of sequester will be to retard growth by 1.25 percentage points. >> jon: how many people only took away from that sound bite the word retard. and how that word even if proper context seems offensive. you...